Pros and cons of tax reform in the philippines

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Is The Proposed Tax Reform Really Anti-Poor?

pros and cons of tax reform in the philippines

For years, Filipino workers have complained about the country's high tax rates while getting what they perceive as low-quality public services. The present.

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A perfect Christmas gift for our wealth building efforts next year! It aims to erect infrastructure beneficial to the public, including military infrastructure and solutions to the worsening traffic. Also, it aspires to decrease Philippines poverty levels over time. And in return, levy more excise taxes. Now, with a higher disposable income, Filipinos have a choice where to spend their hard-earned money.

Starting in the first payday of , some six million Filipino workers should see an income tax reduction in their payslip, thanks to the newly implemented Tax Reform for Acceleration and Inclusion TRAIN Act. The TRAIN law or Republic Act , which took effect on January 1, , is the first of five tax reform packages for a simpler, fair, and efficient tax system. On the other hand, it increases excise taxes on fuel, mineral products, vehicles, and cigarettes. It also imposes new taxes on sugar-sweetened beverages and cosmetic procedures. What does this mean to an ordinary employee like you?

Quezon City Rep. Vargas posted the apology on NFA Administrator Judy Carol Dansal admitted this before a Senate hearing as she explained why the agency could no longer accommodate to buy more Two men in Laguna who were hunting spiders for a derby were shot dead after they were thought to be assets. The San Pablo police said they were hunting down the suspect on the killing of a junk shop employee Jaymark Espregante and tricycle driver Dave Christian

Skip to main content. Apply today Did you know? What has it achieved so far for the betterment of the nation to usher the introduction of the second tax reform program in the coming year ? What does it aim to achieve? There have been several on-going debacles and speculations with regard to this degree turn in the tax system in the country. Some people question its effectiveness, while others are positive enough to give it a shot. Some are happy about this intervention but there are some who are not, and there is a good sum of people who, perhaps, just do not know what this is all about.

Written by Marc Adrian. As the tax paying workers in the country pocket bigger tax savings, the government will be losing a huge chunk of revenue from income tax collection. In order to address this compromise, certain adjustments were proposed. In order to recover the money that the government will be giving up to provide tax cuts to the majority of the working class, the tax reform package proposed higher taxes on some commodities. In an attempt to balance out the financial burden of the government and its people, the measures on how to make this happen have become a subject of debate.

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5 Reasons Why the Tax Reform Law is Good for Us

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5 thoughts on “Pros and cons of tax reform in the philippines

  1. Some were happy with more take-home pay for their families; others believe that the increase in take-home pay was more than offset by the spikes in the prices of oil, as well as basic and prime commodities.

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